Free Essay

Validity of Reward for Return

In: Other Topics

Submitted By jeffersonp2001
Words 435
Pages 2
MEMORANDUM

From:

To: Reader

Date: February 1, 2012

Re: Validity of reward for return of lost object

Relevant Facts

Alan finds a lost object belonging to Bart. Alan intends on returning the object to the rightful owner. Bart, after realizing that he lost the object and after Alan finding it, offers a reward for the return of the object. The events have happened in Boring, Oregon.

Issue Presented

The issue at hand is whether a reward for the return of the object is binding when it’s made after the object has already been found by another person.

Applicable Law

In Oregon Supreme Court ruling MacFarlane v. Bloch, 59 Ore. 1 (Or. 1911), the court has sided with the finder of a lost pocketbook and demanded that the rightful owner pays a reward to the finder, after the pocketbook has been returned. The owner claimed that the pocketbook was found before the rewards has been announced, and that the finder delayed returning to pocketbook. “To entitle plaintiff to a reward for finding a lost pocketbook, it was immaterial that she found the book before the offer was made, the reward not being for the finding but for the return of the book.” MacFarlane, 2. The court decided that it was irrelevant when the offer for reward was made, as the reward is for returning the item to the rightful owner and not for merely finding it.

The Oregon Supreme Court has also ruled in Watts v. Ward, 1 Ore. 86, 88 (Or. 1854), that the finder has a right to hold onto the lost property until a reward promised to him or her is actually paid. “ Where a reward is offered for lost property, the finder, when he complies with the terms of the offer, has a right to retain the property in his hands until the promised reward is paid to him.” Watts, 4.

Application to our Case

In our case, Alan has found an object and has the intention to return it to Bart. Even though the reward for returning of the object has been made after Alan found it, he is still entitled to a reward. The reward is for returning the object to Bart, which once he does, will satisfy the terms of the reward. MacFarlane. Furthermore, Alan can hold on to the lost object until Bart meets his end of the reward and compensates Alan for returning it to the rightful owner. Watts.

Conclusion

In conclusion, Alan is entitled to a reward for returning the object to Bart, even though the offer was made after Alan has found the object.

Similar Documents

Premium Essay

“Pfeffer (2005) Argues for Wage Compression and Symbolic Egalitarianism. Discuss the Validity of His Arguments.

...reserved parking spaces for certain employees (Standford University, 1994). Pfeffer’s arguments can be valid however they can also be questionable, in whether they are the right practices to use. Culture, job factors and organisational context are important aspects to consider in determining whether these practises may or may not work. Pfeffer’s rationale and casual logic for wage compression is that by “reducing interpersonal competition and enhancing cooperation, can lead to effective gains.” (Pfeffer, 2005) Although Pfeffer recognises that large differences in rewards can increase motivation and improve performance, Pfeffer believes that wage compression can produce a higher overall performance, as employees are not focused on gaming the system to gain extrinsic rewards for themselves.”(Pfeffer, 2005) The validity of Pfeffer’s argument suggests that a payment structure that focuses on physiological returns will increase overall performance if employees are intrinsically motivated. However his argument ignores external alignment, being payment structures of competitors. Individuals seek to...

Words: 1779 - Pages: 8

Free Essay

Outline and Evaluate Two Theories of the Formation of Relationships

...individuals attempt to maximise their rewards and minimise costs. Exchange refers to when an individual receives an award from others, they feel obliged to reciprocate. These rewards that we may receive from a relationship may include companionship, security and sex. Costs are those exchanges that result in a loss or punishment. These may include physical or psychological abuse and loss of other opportunities. The rewards minus the costs equal the outcomes or profits. Thibaut and Kelly developed a comparison level. They introduced two levels; comparison level and comparison level for alternatives. Our comparison level refers to our past and present and is the product of our experiences in other relationships together with other general views or expectations. If the current relationship exceeds our comparison level, we deem the relationship to be worthwhile and we are motivated to maintain the relationship. If however, the profit is less than our comparison level, we will be left dissatisfied and the other person will appear less attractive as a partner. The comparison level for alternatives, on the other hand, is concerned with the benefits of possible alternative relationships. It involves a person weighing up a potential increase in rewards from a different partner, minus any cost associated with ending the current relationship. Thibaut and Kelly also developed a four-stage model of long-term relationships. These consisted of sampling, where rewards and costs are assessed......

Words: 921 - Pages: 4

Premium Essay

Business

...FINCorporate Financial Policy: Risk, Return and the CAPM Jide Wintoki Fall 2013 Jide Wintoki (University of Kansas) Business Investment (FIN 468) Fall 2013 1 / 13 Lecture Outline The Relationship Between Risk and Return The Security Market Line Calculating Individual Stock Betas Validity and the Role of the CAPM Some Alternative Theories Jide Wintoki (University of Kansas) Business Investment (FIN 468) Fall 2013 2 / 13 Risk and Return The return earned on investments represents the marginal benefit of investing. Risk represents the marginal cost of investing. For any project to create value, the marginal benefit must exceed the marginal cost of investing. Jide Wintoki (University of Kansas) Business Investment (FIN 468) Fall 2013 3 / 13 Project or asset risk In general, the risk of investing in any project or holding any asset consists of two components: Undiversifiable risk (systematic risk, market risk) Only systematic risk is priced in the market. This is the only type of risk that is relevant for capital budgeting or asset valuation. Beta is one way to measure the systematic risk of an asset. Diversifiable risk (unsystematic risk, idiosyncratic risk, or unique risk) Investors do not care about unsystematic risk because it can be diversified away very cheaply. Jide Wintoki (University of Kansas) Business Investment (FIN 468) Fall 2013 4 / 13 Capital Asset Pricing Model (CAPM) E (Ri ) = Rf + βi [E...

Words: 773 - Pages: 4

Premium Essay

Human Resources

...Human resource management! page 1 / 8 Introduction to Human Resource Management A. Why HRM is important to all managers ? ! Business success lies in controlling the scarcest of resources : human intelligence ! Authority will be increasingly challenged B. HRM trends Some key challenges : ! demographics (talent shortage, ageing population, changing family patterns, diversity) ! economics (health costs, retirement costs, demand for qualified workers, M&As) ! globalisation (off shoring, uniformisation of labour standards, CSR & NGO, safety & security) ! technology (knowledge management, eLearning, protection of intangible assets) C. Strategic Human Resource Management Analysing work & designing jobs A. Job Analysis ! systematic gathering and organization of information concerning jobs : tasks / duties / responsibility You do this job analysis with : questionnaires, interviews, direct observation, and logs or diaries. The uses of job analysis : legal, recruiting, selection, performance, compensation, training, career dvpt. B. Job description ! document that identifies and defines a job in terms of its tasks, duties, responsibilities, working conditions, specifications. - Identification information : non-discrimination / up-dated / agreed - Job summary - Job duties and responsibilities - Job specifications and qualifications C. Types of employment Standard contract / Flexible contract Florent Malbranche © ! EDHEC BUSINESS SCHOOL 2010/1011 Human resource......

Words: 1463 - Pages: 6

Premium Essay

Dimensional Fund

...EXECUTIVE SUMMARY This report analyse the case of Dimensional Fund Advisors (DFA) which is an investment firm in Santa Monica, California. In 2002, David Booth is in dilemma considering how should he lead DFA in the future considering current success condition DFA could achieved. The aim of this report is to assess the condition and situation of DFA and help David Booth in making decision as to what to do to excel DFA performance. This report is divided into 5 parts starting from the company background and its business strategy followed by Fama-French Three Factors Model that highly influence the strategy formulation and action taken by DFA. Third part will be DFA’s trading strategy and continued by brief analysis of its new product namely Tax-Managed Funds. Finally, it will be concluded by recommendation given to David Booth considering the content in main body of this report. Overall, it can be said that the main issue is whether DFA should continue its current operational strategy or it should develop new strategy in order to increase its performance among competitors. As in conclusion, it is suggested that DFA should follow current strategy since it has been proven to work well and it brought DFA to be among top 100 companies. COMPANY BACKGROUND AND BUSINESS STRATEGY Dimensional Fund Advisors (DFA), an investment firm founded in 1981 by David Booth and Rex Sinquefield, is strong believer of Efficient Market Hypothesis (EMH). DFA has adopted EMH In both its strategic......

Words: 1097 - Pages: 5

Premium Essay

Impact of Reward System on Employee Motivation

...IMPACT OF REWARD SYSTEM ON EMPLOYEE MOTIVATION A QUANTITAVE STUDY OF GLOBAL COMPANIES      Programme Code & Name: Session: Subject Code & Name: Assignment Title: Student’s Names & ID: o Nguyen Vu Minh An o Li Jia o Dai Hairong o Hue Shin Yen o Zhangshan o Daiwei    Class Section: Lecturer: Submission Date: I13003385 I12002184 I12002129 I13003254 I12002130 I12002099 5A1 Ms. Yalini Easvaralingam 12th Aug, 2013 MBADI–Master of Business Administration May 2013 MGT6208 – Statistic and Decision Analysis Group Assignment 1 Group assignment MGT Table of Contents ABSTRACT ......................................................................................................................... 3 CHAPTER 1: INDTRODUCTION ....................................................................................... 3 1.1 Problem statement ........................................................................................................... 3 1.2 Research Objectives ........................................................................................................ 5 CHAPTER 2: LITERATURE REVIEW ............................................................................... 5 2.1 Employee motivation ...................................................................................................... 5 2.2 Reward management system ........................................................................................... 7 2.3 Effects of financial and non-financial......

Words: 7225 - Pages: 29

Premium Essay

Aero Motors Case Study

...go-it-alone strategy in which we will attempt to penetrate the market with our own brand. The second option is to partner with a local company which will minimize the risk and enable Aero Motors to leverage the partner’s infrastructure and favorable brand image. After much consideration, it is evident that there are advantages and disadvantages to each alternative. Below I have delineated each option based on the risks and rewards and as it relates to effective use of our brand followed my recommendations. Go-It-Alone: Risk and Reward This strategy can bring a lot of reward if the project is a success, because GenMax will be able to capture all the profits and other possible benefits such as newly earned brand recognition. Additionally, GenMax will be able to take advantage of the two years before the competitors can utilize the new technology allowing for greater profitability. Lastly, by utilizing a go-it-alone strategy, Aero Motors will enjoy the autonomy to make decisions without having to wait for the partner to agree or compromise. While those rewards appear to be favorable, there are also risks that should be considered. In utilizing the go-it-alone strategy one must take into account the limited or even non-existent brand perception Aero Motors and GenMax have in the North American market. It must be considered because the lack of brand equity can influence consumers’ perception of the quality of the product which may impact how they accept the new......

Words: 1049 - Pages: 5

Premium Essay

Yoyoyoyo

...Success Qualification Period, begins on July 1, 2011, at 12:00 AM ET and ends on July 31, 2011, at 11:59 PM ET (“Sprint to Success Qualification Period”). The second qualification period, the Participation and Overall Qualification Period, begins on July 1, 2011, at 12:00 AM ET, and ends on August 31, 2011, at 11:59 PM ET (“Participation and Overall Qualification Period”). Beachbody LLC’s (“Sponsor”) computer is the official time-keeping device for the Challenge Period and each Qualification Period. 2. Challenge Description: In the Success Club Team Challenge 2011 (“Team Challenge” or “Challenge”), Sponsor invites Coaches to join into teams and compete for individual and team rewards, as set forth herein. In addition to meeting all other terms herein, to be eligible for the Challenge and Challenge rewards, Coaches must form and register a team comprised of five (5) Coaches; however, each team may include only two team members who have achieved a lifetime rank of Diamond or above, and only one of those two team members may have achieved a lifetime rank of Star Diamond or above (“Team”). Lifetime ranks for Team membership purposes will be evaluated based on each Team member’s status at the close of the bonus week ending on June 29, 2011. Teams must be registered by their Team Captain by June 30, 2011 at 11:59 PM Pacific Time at www.regonline.com/teamchallenge. Following registration, Teams will...

Words: 4223 - Pages: 17

Premium Essay

Notes

...TRAINING AND DEVELOPMENT MBA III SEM AS PER SYLLABUS OF RTU, KOTA PREPARED BY Dr. Pragya Mathur Kumar FACULTY (BISMA) BIYANI GROUP OF COLLEGES SECTOR -3, VIDHYADHAR NAGAR, JAIPUR -302023. For more detail :- http://www.gurukpo.com TRAINING AND DEVELOPMENT Group C [HUMAN RESOURCE MANAGEMENT] M-311 STUDY MATERIAL IN THE FORM OF QUESTION & ANSWERS Objective: The purpose of this paper is to provide an in-depth under-standing of the role of training in the HRD and to enable the course participants to manage the Training system and processes. CONTENTS TOPIC 1. NO.OF QUESTIONS Page Introduction to Training & Development Performance Appraisal & Training Training Process Trainer & Training Institutions - 6 3 2. 3. 5 19 8 9 12 32 4. 5. Evaluation of Training 6. 15 12 37 49 Training Methods and Techniques Annexure References 60 For more detail :- http://www.gurukpo.com UNIT I INTRODUCTION TO TRAINING AND DEVELOPMENT Q.1. What is training? Ans.Training can be defined as “The systematic acquisition of attitudes, concepts, knowledge, roles, or skills, that result in improved performance at work.” It refers to the process of teaching employees the basic skills they need to perform their jobs. Training refers to skill enhancement processes and activities designed to provide learners with the knowledge and skills needed for their present jobs. Q.2.What is training needs assessment? Ans. Training Needs Assessment consists of : Organizational Analysis :Examines......

Words: 7607 - Pages: 31

Premium Essay

Performance Management

...Management: Strategic Purpose – a performance management system should link employee activities with the organizations goals. a) Administrative Purpose – organizations use performance management information (performance appraisals, in particular) in many administrative decisions: salary administration (pay raises), promotions, retention-termination, lay-offs, and recognition of individual performance. b) Developmental Purpose – to develop employees who are effective at their jobs. Performance Measures Criteria: a) Strategic Congruence – the extent to which the performance management system elicits job performance management that is consistent with the organizations strategy, goals, and culture. b) Validity – the extent to which a performance measure assesses all the relevant-and only the relevant-aspect of job performance. c) Reliability – the...

Words: 1313 - Pages: 6

Premium Essay

Recruitment and Selection

...Mälardalens Högskola School of Sustainable Development of Society and Technology EFO703 Bachelor Thesis in Business Administration, 15 hp Managing Selection and Retention of Employees A Case Study on Länsförsäkringar Bergslagen Sisi Jin 880223 Kazi Sraboni Quader 880705 Supervisor: Magnus Linderström Examiner: Ole Liljefors June 7, 2011 Acknowledgements We, the authors, are grateful to all of those who made this thesis possible. We first appreciate each other for contributing with great efforts to write this thesis and for pushing each other when it was necessary. We especially want to thank our supervisor Magnus Linderström who gave us a lot of feedback and supported us with helpful ideas and relevant materials. We would also like to thank the opposition groups for providing us with their insights. Ann-Christin Palmer deserves a big thank you as she kindly provided us with a lot of information about Länsförsäkringar Bergslagen during the interview, and welcomed us to conduct a follow-up interview. Last but not least, we thank our family and friends for giving us encouragement and support. Sincerely, Kazi Quader and Sisi Jin Abstract Title: Authors: Supervisor: Examiner: Level: Date: Keywords: Managing Selection and Retention of Employees: A Case Study on Länsförsäkringar Bergslagen Kazi Sraboni Quader and Sisi Jin Magnus Linderström Ole Liljefors Bachelor Thesis in Business Administration June 7, 2011 Employee Selection, Employee Retention, Employee......

Words: 18863 - Pages: 76

Premium Essay

Management

...Performance Management Dr. Herman Aguinis PE-A1-engb 1/2011 (1033) This course text is part of the learning content for this Edinburgh Business School course. In addition to this printed course text, you should also have access to the course website in this subject, which will provide you with more learning content, the Profiler software and past examination questions and answers. The content of this course text is updated from time to time, and all changes are reflected in the version of the text that appears on the accompanying website at http://coursewebsites.ebsglobal.net/. Most updates are minor, and examination questions will avoid any new or significantly altered material for two years following publication of the relevant material on the website. You can check the version of the course text via the version release number to be found on the front page of the text, and compare this to the version number of the latest PDF version of the text on the website. If you are studying this course as part of a tutored programme, you should contact your Centre for further information on any changes. Full terms and conditions that apply to students on any of the Edinburgh Business School courses are available on the website www.ebsglobal.net, and should have been notified to you either by Edinburgh Business School or by the centre or regional partner through whom you purchased your course. If this is not the case, please contact Edinburgh Business School at the address below:......

Words: 15243 - Pages: 61

Premium Essay

Effects of Interest Rates on Business Performance

...located on Mukwano Road in Kampala, Uganda's capital city, this multi-activity industrial/trade organization is a family business made up of several associate companies whose current operations include manufacture, sale and distribution of a wide range of consumer products. The associate companies falling under the Mukwano Group include the following: Mukwano Industries (U) Ltd., Mukwano Enterprises (U) ltd, A.K. Plastics (U) ltd, A.K. Oils & Fats (U) ltd, A.K. Detergents (U) ltd, A. K. Transporters ltd, Mukwano sweets & Confectioneries (U) ltd, Rwenzori commodities ltd and Gulfstream investments ltd. An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. Interest is a reward for capital as stated in production factors. Interest rate is the rate or level at which amount required for use of capital is...

Words: 4965 - Pages: 20

Premium Essay

D2 Unit 3

...D2 - Make justified recommendations for improving the validity of the marketing research used to contribute to the development of a selected organisation’s marketing plan. In D2 I will be making justified suggestions for improving the validity of the limitations that was mentioned in M2. There are different limitations in market research, I explained five of these in my M2 and I will be discussing these limitations and how they can be improved in this task. I will also evaluate how the limitations of the three methods of market research that Sainsbury’s uses can be improved in order to keep up their performance if they have been doing well or even if they haven’t been failing how these limitations have help improve their business. Food sampling followed by a survey was the first method of research used by Sainsbury’s to which I discussed in M2. There are many limitations when it comes to food sampling followed by a survey and these limitations were discussed in M2 also. The limitations I discussed concerning food sampling followed by a survey were cultural and cost. Both these limitations will always affect how food sampling followed by a survey is done when this research method is being carried out, but these limitations can be rendered simple but still have effect on this research method. Sainsbury’s being the third leading supermarket in the UK they must carry out large sums of market research in order for the them to beat their competitors although they are in close......

Words: 3713 - Pages: 15

Free Essay

The Psychology

...the psychology Welcome & Introduction If your reading this your studying for AQA A Psychology Psya3 and the Relationship topic is one of the ones you have chosen. Its a wise move I think as its one of the easier ones to learn. I generally advise picking something you can relate to because you have some grounding for it as opposed to learning whole new concepts or ways of thinking on subject matter thats completely foreign. It tends to save you time in getting your head around things. A bit about me - My name is Sajan Devshi and I self-taught myself AQA A A Level Psychology between 2011-2012 achieving an A* grade and 100% in both Psya3 & Psya4. You can check out my certificate on my website at http://www.loopa.co.uk as well as get my other model answers too for the other topics in Psya3 and Psya4. But enough about me - you can learn about me in more depth on my website - lets get on with the show and onto the the overview of this topic, structuring and the model answers themselves too. S ECTION 1 Memorising Your Model Answers This is going to be pretty much your hardest task and with the help of this book hopefully it becomes more manageable. People have various ways they memorise things and it is entirely up to you. Memorising Essays U SING A CRONYMS + P RACTICE The method of memorising the essays is the same across all my model essay answers. I employ the concept of “chunking” alongside the use of “acronyms”. Combined this helped me memorise ...

Words: 10443 - Pages: 42